A Fund Processing Passport (FPP) Portal, set up by the European Funds and Asset Management Association (EFAMA) in June 2010 is beginning to garner support amongst fund managers.PARA_BREAK_SENTINEL_9f8e7d6c

A Fund Processing Passport (FPP) Portal, set up by the European Funds and Asset Management Association (EFAMA) in June 2010 is beginning to garner support amongst fund managers. The initiative was designed to consolidate all cross-border fund documentation of fund management companies into a single online hub, thus making life easier for investors. Although hardly reinventing the wheel, it at least shows EFAMA is trying to modernize the way data is shared in a manner befitting the 21^st century. According to EFAMA this week, 69 fund management companies have signed up to the FPP portal. Over 4,000 FPPs for investment funds domiciled in nine countries can now be accessed via the EFAMA website; it’s a well thought out initiative supported by six FPP providers enabling fund managers the tools necessary to design and distribute FPPs. EFAMA’s Director General, Peter De Proft said that the results were “very encouraging”, adding that he wanted to establish the FPP Portal as the “best tool to obtain the information needed to process trades in investment funds”.